Exclusive Investment Offering: Condominium Interest - Transwestern

uide A Guide to the to the City City of Falls of Falls Church
27
Falls Church Comprehensive
Plan and Retail Future
Boundaries of the City of Falls Church
Boundaries of the City of Falls Church
Broad Street (Rte. Broad 7) and Street Washington (Rte. 7) Street and Washington
(Rte. 29)
Major Roadways
Major Roadways
Encouraged by surging population growth and
City of Falls Church Retail Centers
City of Falls Church limited Retail Centers opportunities for residential development,
over 15,000 sf
over 15,000 sf the Falls Church Comprehensive Plan, originally
Major Retail Centers
adopted in 1997, was updated in 2005. The
Major Retail Centers
updated plan was in large part, designed to address
Number of Average Daily (Vehicular) the changing preference for urban and mixeduse
environments. Driven by population shifts,
Number
Trips
of Average Daily (Vehicular) Trips
increasing transportation costs and congestion,
New Developments Under Construction
New Developments the Under popularity Constructionof urban mixed-use developments
has dramatically intensified over the past few
1 years as they create vibrant, pedestrian-friendly
0.5 Miles
neighborhoods with neighborhood conveniences. 0.5 Miles
2 5
1.0 Miles
1.0 Miles
4 6
Since 2004, 1.4 million square feet of mixed 2.0 use Miles
space has been completed or is in the development
3
and planning stages. These developments include
over 1,200 residential units, 280,000 square feet
of new office space, and 146,000 square feet of
retail space. When completed these projects
are projected to generate $2.5 million in annual
revenue and are estimated to total $493 million in
assessed or estimated real .50 estate mi value. 1.00 mi 2.00 .50 mi mi Trade 1.00 Area mi 2
Population
At the City’s focal point
Population 4,370 17,073 67,848
will be the long-anticipated
4,370 36,076 17,073 6
Daytime Population
landmark urban village Daytime 5,816
project Population 15,577 26,911
known as City 5,816 25,328 15,577 2
Center Median (#6 HH on Income the adjacent Median $79,684 map). HH $86,415 Income Centered $85,779 $79,684 at $80,891 $86,415 $
Broad No. of Street Households and Maple No. Avenue, 1,797 of Households just 6,766 1/3 of a 26,146 mile 1,797 14,101 6,766 2
east Education of The (B.A. Broadway, +) City Center will include
Education 62.1% (B.A. 59.2% +) 48.1% 62.1% 50.6% 59.2% 4
about six blocks and 22 acres of land between
Source: U.S Census Bureau, Claritas,
Little Falls Street on the Source:
Inc.,
west, U.S
Retail
North Census
Compass
Bureau,
LLC
Washington Claritas, Inc., Retail Compass LLC
ail Street on the east, Park Avenue to the north, and
New Under Retail Construction
Under Construction Falls Church
Gibson to the south. The project to be developed
513 1. 1 The West Byron, Broad 513 Street West • 9,000 Broad sf retail Street • 90 condominium • 9,000 sf retail units • 90 • Delivering condominium Mixed-Use Fall units 2006• Delivering Developments
Fall 2006
by Atlantic Realty is scheduled to break ground in
2009 and will include 25,000 square feet of ground
um, 2. 2 The 444 West Spectrum, Broad 444 Street West • 30,000 Broad sf retail Street • 30,000 • 30,000 sf office sf retail • 189 • condominium 30,000 sf office units • 189 • Delivering condominium 2007 units • Delivering floor 2007 retail, a Harris Teeter grocery store, more than
1 THE SPECTRUM
100,000 square feet of new office space, a 180-room
uare, 3. 3 Pearson 500 South Square, Maple 500 Street South • 25,000 Maple sf retail Street • 85,000 • 25,000 sf office sf retail • 230
2• condominium 85,000 THE sf BYRON office units • 230 • Delivering condominium Fall units 2007• Delivering hotel, Fall approximately 2007 500 apartment units, 67
ls Contact Church Economic the City of Development Falls Church Economic Office for Development more detailed Office information more about detailed these information exciting retail about opportunities. these exciting retail opportunities.
condominiums, a new Bowl America facility, and
3 pEARSON SQUARE
1,500 spaces of structured, underground parking.
evelopment economic development office • (703) office 248-5491 • (703) 248-5491
4 THE READ BUILDING
5 NORTHGATE
Demographic Demographic Profile Prof
www.developfallschurch.org
Please refer to the following page for other recent
completed or planned mixed-use developments.
Proposed Future Falls Church City Center
6 Falls church city center
ASSET INVESTMENT SALES GROUP